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Rising Energy Will Further Release Cotton Prices.

2011/3/2 17:02:00 82

More single warehouse to make us cotton down

Demand is stable, and the fundamentals still have a certain supporting role in cotton prices. However, due to the recent trend in the US cotton market being controlled by speculative capital, there are 9 days in which nearly 10 working days have reached the limit of price rise and drop, and there is still a possibility of closing the stock market in May and July. This has led rational investors to withdraw from the market, so that ICE cotton holdings have dropped to a 7 month low point. The US cotton market suffered more single profit selling on Tuesday night, and the price dropped to a higher price of 2.37 cents to 193.6 cents / pounds. The short-term cotton price will continue to show a high and broad trend of fluctuation. The market will turn to Thursday's weekly weekly report and next week's USDA monthly report, and whether USDA will reduce cotton production in China and India. Despite tight supply and future

Technically, the ICE cotton leaves high and low, but the cotton price is still stable over the short-term average. The medium and long term moving average system keeps a good long run up. Meanwhile, KD and MACD indicators are bonded to form a rising trend. The green index of the MACD index is shortened, indicating that the cotton price is getting stronger. However, it should not be too optimistic about the rebound due to capital. Cautious attention should be paid to the support of the 190 cents / pound line in May.

Zheng cotton on Tuesday was blocked at the 33000 yuan / ton line, although the fundamentals were good, cotton prices remained strong, but the two sessions were about to be held. The pressure of policy was increased, cotton prices were at a high level, bullish popularity was suppressed, and the probability of short-term cotton prices rising sharply was not great. On Wednesday, Zheng cotton would fall to a high level, such as the 1109 contract 32800 yuan / ton supporting the fall, and more than one single surplus left, traders could continue to increase their holdings.

Otherwise, a small number of holdings should be appropriate.

(Wanda futures Urumqi Sales Department Du Ying)

Rising energy will further release cotton prices.

ICE

cotton

Futures continued to rise on Tuesday. The May contract rose 237 points to 1.936 dollars, ICE cotton.

futures

Opening up continued strong upward trend, the highest price to 1.9823 trading price, but after the end of the profit making the market quickly fell from high, after a continuous trading, the market has recovered the decline, but also accumulated risks, some investors temporarily left the field, from the capital side and technology perspective, the market continued to rise strength is insufficient, may have to experience a downward shock, while the fundamentals still prefer, ICE cotton futures will continue to maintain a long trend.

Zheng cotton futures yesterday actually rose little, although the same is faced with ICE cotton trading, but the strong rise of the previous day was greatly reduced yesterday, and the strength of the increase was insufficient. This also indicates that the short-term market will enter the shock pattern.

Zheng cotton is still weaker than cotton, cotton spot sales are also relatively light, and the rise of futures has not yet been able to pull up the spot price significantly higher, the market is mostly on the sidelines and adopt the way of buying and using. In the medium term, the market is still in short supply of high-grade cotton. Bulls are still active.

(Haitong futures Zhengzhou Sales Department: Zhang Jianwei)

The cotton harvest has been raised due to speculative buying.

According to New York March 1st, intercontinental

exchange

(ICE) cotton rose on Tuesday, which was boosted by speculative buying, but the profit taking after trading in the session brought the market down.

Cotton futures positions slipped to its lowest level in 7 months on Tuesday, as investors withdrew from the cotton market, despite the fact that the fundamentals of cotton remain excessive, with tight supply and steady demand.

ICE cotton contract in May rose 2.37 cents, 1.936 U.S. dollars per pound, hit 1.9823 U.S. dollars in the session, rose 7 cents or limit.

Last week, the contract hit a record high of $2.1176.

According to the data released by the Intercontinental Exchange, as of February 28th, cotton futures positions reached a low of seven months and 174074 hands.

Preliminary data show that the turnover is about 32300 hands on Tuesday, about 3% higher than the regular volume of 30 days.

MIKE STEVENS, an independent cotton analyst, said cotton futures fell sharply from the day's high profits.

Analysts said that investors had withdrawn from the cotton futures market, because cotton futures trading in recent days has provided investors with opportunities to make profits.

The analysts and other market participants said that, given the excessive fundamentals of cotton futures, it is estimated that the market downturn will be temporary.

Analysts say the market will turn to the weekly export sales data released by the US Department of agriculture on Thursday to determine cotton demand.

Next week's focus will be the monthly supply and demand report of the US Department of agriculture and the planting prospect data at the end of this month.